Tesco along with Carrefour announce a long-term strategic alliance

French supermarket retailer Carrefour along with British peer Tesco announced on Monday plans to form a global long-term purchasing alliance, as they seek to cut costs.

The deal will be the latest partnership within the European retail industry, which has seen U.S. internet giant Amazon make in-roads into the sector in recent months.

The alliance will cover the strategic relations with global suppliers, the joint purchasing of own-brand products along with goods not for re-sale, said Carrefour in a statement.

Carrefour, Europe’s largest retailer, in January announced plans to cut costs along with jobs, boost E-commerce investment along with seek a partnership in China, in an effort to lift profit along with revenue along with beat domestic rivals from the race to develop digital shopping products.

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